Today’s homebuyers are in a unique position to combine the benefits of a fixed rate mortgage with the savings opportunities of an Adjustable Rate Mortgage (ARM). Our “Hybrid ARM” solutions give you the best of both worlds.
An ARM offers a fixed rate term followed by regular rate adjustment intervals thereafter.
These loans are often represented by fractions, such as 7/1. The first number represents the number of years the rates are fixed. The second number indicates the adjustment interval, or how often the interest rate will change.
Example: For a 7/1 loan, the fixed period is seven years. After that time, the interest rate adjusts every one year for the life of the loan.
Find out if an Adjustable Rate Mortgage is right for you.